tci Medicare Compliance & Reimbursement - 2003 Issue 31

Long-TermCare: WHAT THE 2004 ADJUSTMENTS MEAN FOR NURSING HOMES

Industry braces for much-needed cash infusion. Skilled nursing facilities are in for a significant payment increase in 2004 - but a big chunk of the extra funding is simply payback for years of miserly reimbursement. In its Aug. 4 final rule on nursing home Medicare payments, the Centers for Medicare & Medicaid Services says it will infuse the industry with an additional $850 million in 2004. The money comes from two sources: $400 million from a 3-percent hike that's essentially a cost-of-living raise for 2004 and another $450 million from a 3.26-percent "forecast error adjustment." The latter...

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